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Stow elderly housing project receives $48M in government financing

Success Story

Stow Elderly Housing Corporation is using a $25 million tax-exempt bond issued by MassDevelopment and purchased by Eastern Bank to renovate and expand affordable housing in Stow. The organization is renovating an existing 50-unit affordable rental housing complex for seniors and single-family house and building a new 37-unit supportive housing building for seniors dubbed the Elizabeth Brook Apartments. The new building will be adjacent to the existing apartment complex and will create a campus and continuum of care to benefit residents at various stages of life.